A brazen Ayrshire business chief has been banned from being a company director for ten years after spending the majority of a Covid loan on herself.
The emergency financial aid was designed to enable businesses to access finance more quickly during the coronavirus outbreak. Businesses could claim up to £50,000, but couldn't exceed 25 per cent of the business' turnover. On February 6 this year, Coyle placed the company into Creditors Voluntary Liquidation with a deficiency of £30,000 which is owed to the bank, the company’s only creditor, in respect of the BBL.
"Monica did not organise or attend the AGM for ABW that month and did not complete the hand over to the incoming 2020 president, Mary Cahill.Coyle has been banned from being a company directory for a decade with the order set to expire in September 2032.